The betting platform hired creators to simulate massive winnings on social media, according to the Wall Street Journal and The Verge.
The event-betting platform Polymarket has been paying content creators to produce fake betting videos and celebrations of million-dollar prizes on social media. The information was revealed by a Wall Street Journal investigation and confirmed by a report from The Verge.
The misleading posts showed users allegedly risking and winning large sums on the platform. However, the creators involved confirmed to the publications that the winnings were simulated and that they had been paid by the company to record the material, without this commercial relationship being disclosed in the videos.
The Wall Street Journal investigation identified more than 1,100 misleading clips circulating on the internet. The survey managed to track down and speak with creators who participated in the undisclosed paid promotion scheme.
The practice draws attention to the marketing strategies adopted by cryptocurrency and online betting platforms to attract users. The spread of fabricated viral content designed to simulate easy wealth poses a risk to consumers, who may be induced to gamble with real money.
So far, there is no detailed information on the total amount invested by Polymarket in this hidden advertising campaign. The reports do not indicate whether the company has officially addressed the accusations or whether it will take action regarding the videos already published.
Yes. According to investigations by the Wall Street Journal and The Verge, Polymarket paid content creators to simulate large winnings and celebrations on social media without disclosing the commercial relationship.
The Wall Street Journal investigation identified more than 1,100 misleading clips circulating on the internet that featured fabricated betting wins and paid promotions.
As of the recent reports, there is no information indicating whether Polymarket has officially addressed the accusations or taken action regarding the misleading videos already published.